Century Textiles' sales up

Century Textiles and Industries has reported higher turnover and profits in the 12 months ended March 31,2001. The directors have recommended a dividend of 10 per cent against 6 per cent in 1999- 2000. The encouraging performance was due to the realisation of higher prices in some of the units, particularly in cement and paper. Gross sales have improved by eight per cent to Rs. 2,269.19 crores from Rs. 2,109.68 crores. The net profit, before depreciation and taxation has increased to Rs. 145.82 crores from Rs. 95.15 crores.

Depreciation claimed Rs. 80.30 crores (Rs. 74.34 crores) and taxation Rs. 6 crores (Rs. 27 lakhs). The profit after tax was higher at Rs. 53.95 crores against Rs. 34.52 crores.

Shipping Corporation

Shipping Corporation of India (SCI) has reported a 148 per cent rise in its net profit at Rs. 401.59 crores for the financial year ended March 31, 2001, as compared to Rs. 161.61 crores in the corresponding period of previous fiscal.

Total income was also higher at Rs. 3,208.88 crores in the reporting year against Rs. 2614.75 crores.

For the fourth quarter ended March 2001, the net profit was higher by 55.3 per cent at Rs. 169.44 crores against Rs. 109.08 crores while total income stood at Rs. 917.59 crores against Rs. 730.08 crores.

Ucal Fuel Systems

Ucal Fuel Systems has reported improved working results for the year ended March 31, 2001 despite the dismal performance of auto ancillary units. Net sales and income from operations have risen by 24.4 per cent to Rs. 158.09 crores from Rs. 127.06 crores in the previous year. Export sales accounted for Rs. 15.66 crores (Rs. 11.24 crores). The gross profit, before depreciation and interest charges, has increased by 34.3 per cent to Rs. 32.53 crores from Rs. 24.22 crores.

The timely introduction of environmental friendly products for the Indian market with the support of its collaborator Mikuni Corporation, Japan, a 20 per cent growth in supply to the two- wheeler segment and an increase in overall export turnover, especially in the last quarter, were responsible for the improved performance. The net profit after taxation stood at Rs. 12.88 crores against Rs. 10.20 crores, a rise of 26.2 per cent.

In the three months ended March 31, 2001, net sales and income from operations were Rs. 40.69 crores (Rs. 39.48 crores) while the net profit has risen sharply to Rs. 3.59 crores from Rs. 1.23 crores in the same period in the previous year. The company has received a large export order in the last quarter.

DSQ Software

DSQ Software has reported a 30 per cent rise in its income from software services at Rs. 117.25 crores in the quarter March 31, 2001 against Rs. 90.22 crores in the corresponding period of the previous year. The net profit after taxation has risen by 28 per cent to Rs. 28.61 crores from Rs. 22.40 crores.

The company has been assessed at Level 5 of the Capability Maturity Model (CMM) of the software engineering institute (SEI) for all its centres. The assessment was done by Global Systems Technology Inc., the premier CMM assessment auditing firm.

The company has tied up with a large French IT company which is a leading independent system integrating company catering to the French and Luxembourg markets. It opened one ODC facility for a U.S. client and one for a U.K. client. The company added ten large new accounts during the quarter, says a company press release.

Mascon Global

Mascon Global, a leading integrated IT services company, has announced its financial results for Q1 2001 at a board meeting held in New Delhi. Mascon has achieved a turnover of Rs. 106.85 crores during this period, which is an increase of 75 per cent over the corresponding period last year. It has recorded a net profit of Rs. 22 crores in the first quarter, which is an increase of 85.5 per cent compared to the same period last year. Mascon follows the calendar year as its fiscal year.

During the first quarter of 2001 Mascon has announced merger of Maars Software International, a Chennai based company with operations in Europe and the U.S. in addition to the domestic market. Strengthening its customer base, Mascon has signed several new contracts in the U.S. during this quarter.

IT & T

IT & T has announced its unaudited financial result for the year ending March 31, 2001. It recorded an increase of 272 per cent in net profit for year ending March 2001 to reach Rs.13.25 crores as compared to a net profit of Rs.3.56 crores in last financial year. The company's turnover during 2000-01 also increased by 49.9 per cent to reach Rs. 30.82 crores as compared to last year's Rs.20.56 crores.

eonour software

eonour software has reported a turnover of Rs. 15.14 crores in the quarter ended March 31, 2001 against Rs. 6.24 crores in the corresponding period of the previous year. The profit, after taxation, has improved to Rs. 399.16 lakhs from Rs. 242.14 lakhs.

In the 12 months ended March 31, 2001, sales were at Rs. 47.37 crores against Rs. 12.96 crores. The profit after taxation was Rs. 15.20 crores against Rs. 3.60 crores.

The growth is attributed a series of aggressive tie ups and alliances. The company has opened offices in New Delhi, Mumbai, Singapore and the U.S. It is also working on a joint venture arrangement through a Hong Kong based software company to reach the Southeast Asian market which has good potential for software business, says a company press release.

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